Mortgage Note Buyers - Who Are They and How Can They Help You?
by Dallas Appraiser L.L.C. on 07/30/14
Title:
Mortgage Note Buyers - Who Are They and How Can They Help You?
Word Count:
482
Summary:
Knowing your options when selling your owner-financed note to a mortgage note buyer, can help to make it a "win-win-win" situation.
keywords: #DFW, #Tarrant, #Johnson, #Dallas, #home_appraiser, #home_appraisal, #Property_appraiser, #home_value, #real_estate_appraisal, #Appraisal, #Appraiser, #Home_ownership, #equity, #REO, #foreclosure, #property, #Home, #House, #Real_Estate, #money, #hard_money, #Loan, #Mortgage, #Refinance, #contractors
Article Body:
A Mortgage Note Buyer is simply a person that can get you a lump sum of cash quickly for the future payments you are scheduled to receive.
So if you took back a mortgage or seller financed your home or property when you sold it and are receiving payments, you will be given a fat check in place of those future payments.
The note buyer will then receive the monthly payments instead of you, without any changes for the person making those payments. This is a very simple and easy process.
This is referred to as the "cash flow" industry.
The "cash flow" industry was created by the forces of supply and demand, and it has now filled the void left by traditional lending sources such as banks.
Why do they do this - What's in it for them?
Mortgage note buyers and the companies they work with or for are all about the investment portfolio or long term wealth.
It is profitable for them to collect payment streams that bring them in a consistent cash flow every month. The difference between them and you is that they have thousands of these payment streams coming in and it adds up for them. They also don't mind waiting long years to collect these payments. It's a good investment.
Mortgage note buyers can get you cash for:
* Owner-Financed Mortgage Notes
* Land Contracts
* Contracts for Deed
* Deed of Trust
* Trust Deed
* Promissory Notes
Some note buyers work nationwide and some work a smaller targeted area. They are all different. Some work with many types of properties and some only with single-family residences. Here is a list of the types of properties many mortgage note buyers work with:
* Single Family Residences
* Duplexes
* Condos
* Town Homes
* Apartment Buildings
* Commercial Buildings
* Land (improved or unimproved)
* Mobile Homes with Land
*Not all mortgage note buyers work with every item listed above, so check to make sure they can do the type of deal you require.
A good contract note buyer will have many programs available to suit your needs in selling your future payments. Whether you want to sell all, or just part of your future payments. Some options include:
1. Full Purchase - The purchase of all of your future payments for one lump sum of cash.
2. Partial Purchase - The purchase of a specified number of your future payments for a lump sum of cash now.
3. Split Payment Purchase - The purchase of a specified monthly amount.
The options are truly unlimited.
In conclusion, a mortgage note buyer's main goal is to create a "Win-Win" situation that gets you the cash you need, when you need it.
Want to consolidate credit cards, pay for college tuition, take a well deserved vacation, purchase a new or second home, or invest in other opportunities? Well if you are collecting payments on a seller-financed note a Mortgage Note Buyer can help you fulfill those dreams.
Comments (0)
